It’s official: Stephen Colbert has been chosen to replace David Letterman on the Late Show.

CBS announced Thursday that Colbert, satirically hotheaded host of The Colbert Report, will take over when Letterman — the longest-running late-night host in television history — retires in 2015.

“I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave’s lead,” said Colbert in a statement. “I’m thrilled and grateful that CBS chose me. Now, if you’ll excuse me, I have to go grind a gap in my front teeth.”

The decision to cast 49-year-old Colbert was quick, causing much speculation that the job already had his name on it. It was just last week that Letterman announced he would leave the show after 33 years.

“Stephen has always been a real friend to me,” Letterman said in a statement. “I’m very excited for him, and I’m flattered that CBS chose him. I also happen to know they wanted another guy with glasses.”

Letterman’s contract expires in August 2015. It’s unclear whether he’ll opt for an earlier exit, and the final show date has not been released.

Still, the announcement left a slew of unanswered questions. Who will take the helm at The Colbert Report? Who else was in the running for Late Show? And does this spell the end for Colbert’s satirical right-wing persona?

A press release remained mum on most questions, only hinting that “specific creative elements” were yet to be determined. Neither a host city nor producers have been announced.

“Our discussions really centred on finding the most talented, the most creative (choice), the person who was going to conduct the most interesting interviews and be the most interesting person himself, and that’s what led us to Stephen,” Nina Tassler, CBS entertainment chairman, told the Associated Press. She said CBS considered several candidates, but did not name them.

Many believe that Colbert will finally shed his mock conservative alter ego, which he has employed since The Colbert Report premiered in 2005 on Comedy Central in the U.S., and later on Canada’s Comedy Network. The hour-long interview structure of Late Show likely does not lend itself to Colbert’s character-based comedy.

TheEmmy-winning Colbert Report will continue through to December 2014, during which time producers will hunt for a new host. It’s unknown whom they have their eyes on.

“Comedy Central is proud that the incredibly talented Stephen Colbert has been part of our family for nearly two decades,” a Comedy Central spokesman said in a statement. “We look forward to the next eight months of the groundbreaking Colbert Report and wish Stephen the very best.”

The blustery character that brought Colbert fame, originally on The Daily Show before Report debuted, has recently landed him in a spell of controversy. In March, a Twitter campaign aimed to take The Colbert Report off television over accusations of a racist joke, which was posted to the show’s official Twitter page.

“I am willing to show #Asian community I care by introducing the Ching-Chong Ding-Dong Foundation for Sensitivity to Orientals or Whatever,” said the tweet, sent to more than 1 million followers. It wasn’t long before #cancelColbert was trending on Twitter.

The joke was connected to an earlier on-air jab at Washington Redskins owner Dan Snyder, who had announced the Original Americans Foundation. Colbert later distanced himself from the joke, pointing out that he did not run the Twitter account.

In light of Colbert’s new gig, a few on Twitter joked that #cancelColbert had, in fact, worked.

“Looks like the #cancelcolbert people got their way,” tweeted comedian Michael Ian Black.

Others said the campaign had done quite the opposite.

“That awkward moment when you try to get somebody fired and they get promoted. #CancelColbert,” wrote TV writer Bill Dixon.

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